Portuguese bank issuance poised to resume

Portuguese bank debt all but disappeared from the market a few years ago, but with the Novo Banco sale poised to go through and S&P upgrading the sovereign’s credit rating, it may not be long before the pipeline fills up, writes Jasper Cox.

By Jasper Cox

28 Sep 2017

There has been a dearth of new Portuguese paper in the FIG unsecured market in recent years: Caixa Geral de Depósitos (CGD) has been the only issuer since 2014 with its €500 additional tier one (AT1) deal in March.